TCS fully acquires TCS do Brasil

TCS fully acquires TCS do Brasil

Indian IT giant TCS has revealed that they are acquiring the remaining 49 per cent stake in its Brazilian joint venture named TCS do Brasil.

They are paying around USD 33.4 million for this deal and would now own this venture completely.

The company added that TCS do Brasil recorded a topline of 66.5 million dollar for the year ended March 31.

This unit has over 1700 employees and operates from Sao Paulo and Brasilia. Its customer base includes some big profile names like ABN Amro, Good Year and Brasil Telecom.

TCS had entered the Brazilian market in 2002 through a 51:49 joint venture with Grupo TBA. They added that the TCS do Brasil unit has been successful in scaling its business, achieving market penetration and enhancing delivery capabilities, thereby resulting in a high level of customer satisfaction.